Alberta is poised to make a decision on the approval of usage based auto insurance by the end of this year – and according to the Office of the Superintendent of Insurance in Alberta, the only real concerns at this point is exactly what data will be collected.
http://www.insurancebusiness.ca/news/a-preview-of-what-ubi-in-alberta-may-look-like-178098.aspx
A panel discussion on usage based insurance agreed that educating the consumer is crucial to expanding telematics throughout Canada – and that can only be built through transparency and trust.
http://www.insurancebusiness.ca/news/telematics-will-succeed-on-transparency-trust-panel-178105.aspx
Although the number of detected fraudulent insurance claims uncovered by insurers in the United Kingdom was down slightly last year, the value rose 18% to a record £1.3 billion in 2013 compared to 2012.
We would like to think that the well-being and recovery of Ontario’s accident victims is priority one for Ontario’s government. The constant erosion of coverage, the abuse of Ontario’s vulnerable accident victims by insurers and their experts tells us that this isn’t so.
FAIR response to FSCO Draft Statement of Priorities 2014 May 30 2014
The IBC implies if less money went to other costs like legal fees, there’d be more money for accident victims.
But based on past history and particularly the reduced money going to lawyers and experts and medical facilities due to the 2010 cap of $3,500 on minor injuries, there’s little reason to believe if less money went to lawyers and experts that more money would flow to accident victims.
Philadelphia body shop owner, 63, faces hundreds of charges along with 40 others, including a police officer
The economic and societal harm from motor vehicle crashes amounted to a whopping $871 billion in a single year, according to a study released Thursday by the National Highway Traffic Safety Administration.
http://www.citopbroker.com/news/car-crashes-cost-us-871b-in-economic-societal-harm-report-6766
The current regulatory environment is fuelling commoditization of usage-based insurance (UBI) offerings, something that could be at odds with how open consumers are to exploring different options, Colin Wright, principal of Corner 2 Consulting, suggested during a presentation Thursday.
We have all experienced or heard about high insurance premiums in the Ontario auto insurance system. Why does this occur? The insurance industry wants us (and the politicians at Queen’s Park) to believe that premiums are high solely because too much money is being paid out in claims. Is this really the case?
http://oatleyvigmond.com/more-reductions-in-auto-insurance-coverage/#.U4jBMXY9ldg
A majority of Canadians are optimistic about usage-based auto insurance if it could lower their rates, but awareness of telematics programs remains quite low, according to a new survey from Kanetix.